Most often, a delay in an insurance claim will not be your fault – so don’t worry! However, there are a few reasons why your claim may take a little longer than is normal to arrive.
The Claim Happens During the Contestable Period
The first two years after purchasing an insurance policy is known as the contestable period. This means that if a claim is filed during this period, Best Insurance Specialist may decide to review medical records further – looking to ensure that all underlying medical issues were stated on the life insurance application and there are not falsities. If the insured person did make false claims regarding their health, the company maintains the right to contest the claim.
After the contestable period expires, records will not be reviewed and so the claim will be processed and paid faster.
Not Having All Documents in Order
The most common cause for a delayed claim payment is the claimant not having all the necessary documents in order. It is incredibly important to ensure that all documents are filled out completely and correctly, to make sure that the death certificate is original and not a copy, and to provide all supporting documentation.
If all documents are in order, there should be no delays in processing your claim, providing there are no other issues.
The Life Insurance Company Has a Backlog
We have a well-staffed claims department so we are able to handle excess capacity efficiently. Despite this, it is still possible that a minor backlog could cause processing to be delayed by a few days. However, this can only cause small delays and so cannot account for any extended or undue delays. If you feel that we are withholding your claim unfairly, please contact your state insurance department immediately.